Questions from Accounting Principles

Q: Eco Skate makes skateboards from recycled plastic. For a recent job

Eco Skate makes skateboards from recycled plastic. For a recent job lot of 100 skateboards, the company incurred direct materials costs of $600 and direct labor costs of $200. Factory overhead applied...

Q: The following partial job cost sheet is for a job lot of

The following partial job cost sheet is for a job lot of 2,500 units completed. 1. What is the total cost of this job lot? 2. What is the total cost per unit completed?

Q: A company that uses job order costing purchases $50,000

A company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,000 of raw materials as indirect materials and uses $32,000 of raw materials as direct materials. Pr...

Q: A company that uses job order costing incurred a monthly factory payroll

A company that uses job order costing incurred a monthly factory payroll of $180,000. Of this amount, $30,000 is indirect labor and $150,000 is direct labor. Prepare journal entries to record the (a)...

Q: A company estimates the following manufacturing costs at the beginning of the

A company estimates the following manufacturing costs at the beginning of the period: direct labor, $468,000; direct materials, $390,000; and factory overhead, $117,000. Compute its predetermined over...

Q: At the beginning of the year, a company estimates total overhead

At the beginning of the year, a company estimates total overhead costs of $560,000. The company applies overhead using machine hours and estimates it will use 1,400 machine hours during the year. Wha...

Q: For each of the following products and services, indicate whether it

For each of the following products and services, indicate whether it is more likely produced in a process operation or in a job order operation.

Q: Azule Co. manufactures in two sequential processes, Cutting and Binding

Azule Co. manufactures in two sequential processes, Cutting and Binding. The two processes report the information below for a recent month. Determine the ending balances in the Work in Process Invento...

Q: BOGO Inc. has two sequential processing departments, Roasting and Mixing

BOGO Inc. has two sequential processing departments, Roasting and Mixing. BOGO uses the FIFO method. Production unit information for the Roasting department follows. Production cost information for th...

Q: Refer to the information in QS 20-21. Using the

Refer to the information in QS 20-21. Using the FIFO method, assign direct materials costs to the Roasting department’s output—specifically, to the units completed and transferred out to the Mixing de...